Iceland: average annual income by citizenship

From 2008 to 2018, Icelandic citizens earned averagely more than their foreign counterparts. Even though average incomes for both groups have increased since 2011, foreigners still earn around one million Icelandic Krona less than Icelandic citizens.

Average annual income of foreigners in Iceland from 2008 to 2018, compared to Icelanders (in1,000 Icelandic Krona)

Characteristic	Icelanders	Foreigners
2018	5,537	4,583
2017	5,262	4,066
2016	4,852	3,593
2015	4,436	3,589
2014	4,142	3,486
2013	3,913	3,081
2012	3,617	2,775
2011	3,471	2,663
2010	3,733	2,719
2009	3,965	2,832
2008	3,377	2,734

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Release date

October 2021

More information

Region

Iceland

Survey time period

2008 to 2018

Age group

18 years and older

Supplementary notes

The total disposable income of a household is calculated by adding together the personal income received by all of household members plus income received at household level. Missing income information is imputed.

Disposable household income includes:
- all income from work (employee wages and self-employment earnings)
- private income from investment and property
- transfers between households
- all social transfers received in cash including old-age pensions

To take into account the impact of differences in household size and composition, the total disposable household income is "equivalised".

A 'private household' means "a person living alone or a group of people who live together in the same private dwelling and share expenditures, including the joint provision of the essentials of living".

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